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Lakeland Bank Provides $6M Refinance Loan For Office Building In Brooklyn

Property Image
FINANCED
$6,000,000
Brad Domenico
Eddie Miro
Lewis Barbanel

New York

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Office5,000 SF
Financed 04/01/2022
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Property Image
FINANCED

Lakeland Bank Provides $6M Refinance Loan For Office Building In Brooklyn

1419 Myrtle Avenue, Brooklyn, New York 11237, United States

See Similar Deals
Office5,000 SF
Financed 04/01/2022
Brad Domenico
Eddie Miro
Lewis Barbanel
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Office
Price Per Square Foot:$1,200
Total Square Footage:5,000 SF
Transaction Type:Loan

Located in the bustling market of Brooklyn, the office property at 1419 Myrtle Avenue has recently undergone a refinancing transaction. Spanning an impressive 5,000 square feet, this office space offers a prime location for businesses looking to establish their presence in this vibrant neighborhood.

Summary of transaction details

Leading the deal is Brad Domenico & Eddie Miro from Progress Capital, who facilitated the refinancing process. Their expertise and dedication ensured a successful transaction for all parties involved. The loan provided by Lakeland Bank has provided the necessary funds for the property's continued growth and success.

Players

Brad Domenico
Cushman & Wakefield
Brad Domenico
134 deals$3.6B volume
BROKER
Eddie Miro
Cushman & Wakefield
Eddie Miro
36 deals$419.3M volume
BROKER
Lakeland Bank
Lakeland Bank
LENDER
Lewis Barbanel
Barberry Rose Management
Lewis Barbanel
16 deals$181.6M volume
LANDLORD
Lewis Barbanel
Lewis Barbanel
16 deals$181.6M volume
LANDLORD
Lewis Barbanel
Lewis Barbanel
16 deals$181.6M volume
LANDLORD
Lewis Barbanel
Lewis Barbanel
16 deals$181.6M volume
LANDLORD

Details

FINANCED
IMAGE: Brad Domenico & Eddie Miro DATE: 04/01/2022 ADDRESS: 1419 Myrtle Avenue MARKET: Brooklyn ASSET TYPE: Office ~ SF: 5,000 LENDER: Lakeland Bank LANDLORD: Lewis Barbanel BROKERS: Brad Domenico (@Domenico317) & Eddie Miro (@Eddie_Miro) - Progress Capital (@Progress.Capital) LOAN AMOUNT: $6,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$6,000,000.00

Monthly NOI$40,000.00
Monthly Debt Service$37,924.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00